Laura falters on High St but new stores save day

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The High Street slowdown sent UK like-for-like sales crashing 8.1% in the first half, with demand for furniture particularly weak.

The downward trend continued over the summer, with same-store sales down 11.6% in the 33 weeks to 13 September.

"In the light of the current economic climate, we are approaching the second half of this year cautiously," said chairman KP Khoo.

However, with 20 new stores opened in the first half, taking the number to 225, total sales in the UK were up 7.3% to £95.7 million.

Overall group sales rose 5.5% to £113.9 million, sending profits up 13% to £4.5 million.

Khoo said: "I am very pleased we have achieved this against a continuing difficult economic climate.

"Trading conditions on the High Street this year have been extremely challenging, with no indication that the economic situation is likely to improve in the short term."